Can Money Buy Happiness
Research conducted by a team from the University of London seems to conclude that yes it can - but then equally so can friendships and successful relationships.
The researchers tried to calculate what effect our finances and lifestyle have on our emotions.
The team surveyed 10,000 individuals, rating their level of happiness as they answered questions on their wealth, health and social relations. All were placed on a 'life satisfaction scale' of one (utterly miserable) to seven (euphoric).
Using the information collated the team proceeded to calculate the extra money the average person required to move an individual up one place on the scale. Equally they worked out how far life events or changing relationships could also achieve a similar change.
By their comparing the two sets of results the research team were able to 'put a price' on the 'social' changes in our lives. For example, having excellent health was deemed to be worth £304,000 per year, in terms of how happy it made one feel.
Marriage increases happiness levels by the equivalent of an extra £54,000 per year. Chatting and getting on with one's neighbours was deemed to be worth the equivalent of £40,000 per year.
The scale also works in reverse, being widowed decreases life satisfaction by an amount equal to £200,000 per annum. Poor health was equivalent to the loss of £480,000 per year.
What the study, ultimately, concluded was that social changes, relationships and activities have a greater and more lasting affect on happiness levels. Money can buy (increase) happiness but, ultimately, the joy derived from it does not last as long. Maybe that's why retail therapy has to be constantly undertaken and repeated.
What do you think?
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